Trainee Year 1 - Audit
Non member: £99.00 + VAT
Presenter
Dave Norris
1 Hour
On-demand video webinar
ISA 320 and ISA 530 on Audit Materiality and Audit Sampling respectively are among two of the most important auditing standards to ensure firms get the right audit evidence as efficiently as possible.
In this session we will cover the correct approach to assessing materiality in different situations, as well as how to use materiality to calculate sample sizes, given a range of practical situations firms face on real audits.
Materiality
• Different approaches to calculating materiality.
• Documenting the professional judgement used to choose the level of materiality.
• Calculating and recording performance materiality and section specific materiality.
• Using materiality to plan and direct the performance of the audit.
Sampling
• The different methods of sampling.
• Impact of controls testing, analytical review and sample size caps.
• Sample sizes for tests of controls.
• Sampling selection using haphazard or judgement rather than random.
• Dealing with errors.
• Summarising, concluding and recording the sampling.
The course will be relevant to new accountants in their first year in practice.
What's Included
